My question is Why?

If it's so cold outside that you have to design composite materials to avoid frame failure due to the temperature- it's too cold to be outside on a bicycle of any sort. By the time you had enough layers of clothing on to keep your body warm you'd have a heck of a time pedaling. I know there are some hardcore bike commuters here who ride in all types of bad weather but I'm willing to bet that even many of them would agree that -78* is not cycling weather.

I know that sometimes these projects are "learning for the sake of learning" but this whole concept seems ridiculous to me.